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Unformatted text preview: Brainstorming : A group works together to generate ideas Competitors products : A new product entry by a competitor may trigger market opportunity for a firm Idea Generation : Development of viable new product ideas Concept Testing : Testing the new product idea among a set of potential customers Product Development : Development of prototypes and/or the product Market Testing : Testing the actual products in a few test markets Product Launch : Full-scale commercialization of the product Evaluation of Results : Analysis of the performance of the new product and making appropriate modifications...
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- Winter '11